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Small Business Certificates of Deposit

If your small business has $1,000 or more to save, a certificate of deposit may be a good option. Lock in a competitive interest rate and make a longer-term investment in the future of your business.

Features and benefits

  • Comprehensive selection of deposit terms
  • Opening deposits start as low as $1,0001
  • Fixed interest rate2
  • Interest compounded daily and paid at maturity on 1-, 2-, 3-, 6- and 9-month terms3
  • For CDs of one year or longer, interest compounded daily and paid quarterly2
  • Earn higher rate of interest on balances of $5,000 and $100,000
  • Competitive interest rates with the convenience of automatic renewal
  • Interest is automatically redeposited to your CD
  • For CDs of $5,000 or more, interest can be paid by check or credited monthly or quarterly to another account at BMO Harris
  • Maturity notice sent prior to maturity and confirmation notice sent after renewal4
  • Penalty for early withdrawal5

CD terms

Choose from our comprehensive selection of deposit terms:
  • 1 month3
  • 2 months3
  • 3 months
  • 6 months
  • 9 months
  • 1 year
  • 1 ½ years
  • 2 years
  • 2 ½ years
  • 3 years
  • 4 years
  • 5 years

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Deposit account opening and services are subject to bank approval.
1Additional deposits to an existing account: Each CD is treated as a separate account with its own interest rate and maturity. You cannot make additional deposits into or withdrawals from an existing CD until the maturity date. Additional funds may be added and withdrawals may be made during the grace period of ten (10) calendar days after the maturity date.
2Click here for information about Interest Rates and Calculations on deposit accounts.
31 and 2 month terms are only available on Jumbo (over $100,000) CDs.
4Maturity, renewal and grace period: Unless you have instructed us or we have disclosed to you otherwise, your CD will automatically renew at the maturity date to another CD of an equal term at the then current interest rate and Annual Percentage Yield (APY) for that term and current balance. If the CD has a balance less than $1,000, it will automatically renew for the same term with an interest rate and APY equal to the lowest prevailing Statement Savings rate. You will have a grace period of ten (10) calendar days after the maturity date to withdraw the funds without being charged an early withdrawal penalty. Accounts that do not automatically renew will not earn interest after the maturity date. CDs of $100,000 or more may not automatically renew.
5Early withdrawal penalty and computation method: When you make a deposit to any of our CD products, you are agreeing to keep the funds on deposit until the stated maturity date. The maturity date is the first day you can change the term or rate and make a withdrawal without an early withdrawal penalty. We reserve the right to permit withdrawals of principal only upon maturity. If we permit you to make an early withdrawal of principal, you will pay an early withdrawal penalty. The penalty is calculated using the interest rate applicable to the CD at the time of early withdrawal. If the amount of the penalty exceeds the amount of your accrued and unpaid interest, then a reduction of principal would be required in order to pay the penalty. The penalties are as follows:
  • CD Term
  • 1 month (7 – 59 days)
  • 2 months – 11 months (60 days – up to and including 364 days)
  • 12 – 23 months
  • 24 – 35 months
  • 36 – 47 months
  • 48 months or longer
  • Short Term CD Special (2 – 11 months)
  • Long Term CD Special (12 months or longer)
  • Interest Penalty
  • You will be charged all interest earned
  • You will be charged 90 days interest
  • You will be charged 180 days interest
  • You will be charged 270 days interest
  • You will be charged 365 days interest
  • You will be charged 545 days interest
  • You will be charged 180 days interest
  • You will be charged 365 days interest